①French pharmaceutical giant Sanofi has acquired US vaccine company Dynavax Technologies for approximately $2.2 billion in cash to reduce its reliance on the asthma drug Dupixent and diversify its business; ②The transaction will give Sanofi access to an approved hepatitis B vaccine and an experimental shingles vaccine currently in early-stage clinical trials, with completion expected in the first quarter of 2026.
Cailian Press, December 24 (Edited by Niu Zhanlin) French pharmaceutical giant $Sanofi (SNY.US)$ announced on Wednesday that it would acquire US vaccine company $Dynavax Technologies (DVAX.US)$ for approximately $2.2 billion (€1.9 billion) in cash. The deal will give Sanofi access to an approved hepatitis B vaccine, and following the announcement, Dynavax shares surged nearly 40% during early trading on the US stock market.
This year, Sanofi has completed multiple acquisitions aimed at reducing its dependence on its blockbuster asthma drug Dupixent and diversifying its business. In July, the company acquired UK-based private biotech firm Vicebio for $1.5 billion, shortly after completing the acquisition of US rare disease pharmaceutical company BluePrint Medicines in a deal valued at up to $9.5 billion.
Under the terms of the deal, Sanofi will acquire Dynavax at a cash price of $15.50 per share, representing a 39% premium over its closing price of $11.13 on Tuesday.
Sanofi stated that it expects the acquisition to be completed in the first quarter of 2026 and will use existing cash reserves to fund the transaction, which will not impact its financial guidance for 2025.
This transaction marks Sanofi’s second acquisition this year aimed at expanding its vaccine business, against the backdrop of significant adjustments to US vaccine policies. US Health Secretary Robert F. Kennedy Jr., who has been critical of vaccines, has cut vaccine research funding and replaced the head of the US Centers for Disease Control and Prevention (CDC).
The CDC’s advisory committee recently rescinded a long-standing recommendation that all newborns in the US should receive the hepatitis B vaccine. Sanofi had previously noted that declining vaccination rates were partly due to the “negative public discourse surrounding vaccines.”
British competitor $GlaxoSmithKline (GSK.US)$ There have also been warnings that vaccine sales in the United States are under pressure; Australian biotechnology company CSL has postponed the spin-off plan for its vaccine business citing 'increased market volatility' and a larger-than-expected decline in vaccination rates in the U.S.
This transaction will also give Sanofi access to an experimental shingles vaccine currently in early clinical trials. Analysts at JPMorgan believe this acquisition aligns well with Sanofi's strategy. 'If early data can be validated in larger-scale trials, Z-1018 (the vaccine code name) could offer upside potential for the company.'
Analysts also noted that Dynavax’s experimental vaccine has the potential to capture market share in the shingles vaccine sector, which is currently dominated by GlaxoSmithKline’s Shingrix, with expected sales of EUR 4 billion this year.
In a separate disclosure, Sanofi announced that the U.S. Food and Drug Administration (FDA) declined to approve its experimental drug tolebrutinib for the treatment of a form of multiple sclerosis.
Houman Ashrafian, head of R&D at Sanofi, stated: 'We believe the FDA should fully consider the input of scientific experts, clinicians, and patients on this issue to ensure all perspectives are taken into account.'
Editor/Stephen